Upbound Group (NASDAQ:UPBD) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research lowered shares of Upbound Group (NASDAQ:UPBD) from a hold rating to a strong sell rating in a report published on Thursday morning,Zacks.com reports.

A number of other research firms also recently commented on UPBD. TD Cowen reiterated a “buy” rating on shares of Upbound Group in a report on Thursday, January 8th. BTIG Research dropped their price target on shares of Upbound Group from $40.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Upbound Group in a research note on Monday, December 29th. Finally, Wall Street Zen cut shares of Upbound Group from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Upbound Group presently has an average rating of “Moderate Buy” and a consensus price target of $32.25.

Upbound Group Price Performance

Shares of NASDAQ:UPBD opened at $20.31 on Thursday. The company has a market cap of $1.18 billion, a P/E ratio of 14.01 and a beta of 1.88. The business has a fifty day simple moving average of $18.87 and a 200-day simple moving average of $20.94. Upbound Group has a 52 week low of $15.82 and a 52 week high of $30.20. The company has a quick ratio of 0.98, a current ratio of 3.16 and a debt-to-equity ratio of 2.25.

Upbound Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Wednesday, December 17th were given a $0.39 dividend. The ex-dividend date of this dividend was Wednesday, December 17th. This represents a $1.56 annualized dividend and a dividend yield of 7.7%. Upbound Group’s dividend payout ratio is presently 107.59%.

Insider Activity at Upbound Group

In other Upbound Group news, Director Jeffrey J. Brown bought 2,502 shares of Upbound Group stock in a transaction that occurred on Tuesday, January 6th. The shares were acquired at an average price of $17.68 per share, for a total transaction of $44,235.36. Following the acquisition, the director owned 92,972 shares of the company’s stock, valued at $1,643,744.96. The trade was a 2.77% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Upbound Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Ieq Capital LLC grew its position in shares of Upbound Group by 517.8% during the second quarter. Ieq Capital LLC now owns 4,535,114 shares of the company’s stock worth $113,831,000 after buying an additional 3,801,043 shares in the last quarter. Azora Capital LP bought a new stake in shares of Upbound Group in the 2nd quarter worth about $18,961,000. LSV Asset Management raised its stake in shares of Upbound Group by 24.1% in the 3rd quarter. LSV Asset Management now owns 2,532,951 shares of the company’s stock valued at $59,854,000 after purchasing an additional 491,536 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Upbound Group by 60.3% in the 3rd quarter. Wellington Management Group LLP now owns 1,255,874 shares of the company’s stock valued at $29,676,000 after purchasing an additional 472,550 shares in the last quarter. Finally, Huber Capital Management LLC lifted its position in shares of Upbound Group by 67.9% during the third quarter. Huber Capital Management LLC now owns 965,270 shares of the company’s stock worth $22,809,000 after purchasing an additional 390,331 shares during the last quarter. Hedge funds and other institutional investors own 90.30% of the company’s stock.

About Upbound Group

Upbound Group, Inc leases household durable goods to customers on a lease-to-own basis in the United States, Puerto Rico, and Mexico. It operates through four segments: Rent-A-Center, Acima, Mexico, and Franchising. The company's brands, such as Rent-A-Center and Acima that facilitate consumer transactions across a range of store-based and virtual channels. It offers furniture comprising mattresses, tires, consumer electronics, appliances, tools, handbags, computers, smartphones, and accessories.